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Updated February 29th, 2024 at 17:28 IST

Goa govt rolls out one-time tax settlement scheme for VAT and other dues

Chief Minister Pramod Sawant introduced tax incentives, including a 20% discount on undisputed cases and a 50% rebate on disputed claims.

Reported by: Business Desk
Goa Chief Minister Pramod Sawant
Goa Chief Minister Pramod Sawant | Image:Govt site
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Goa tax settlement: The government of Goa has introduced a one-time settlement plan for outstanding dues related to the previous Value Added Tax (VAT) and several other taxes. Chief Minister Pramod Sawant announced that a 20 per cent discount will be applicable for undisputed cases, while disputed tax claims will receive a 50 per cent rebate. Additionally, there will be a complete waiver of interest, penalties, and other dues.

This scheme covers dues not only under VAT but also under other taxes like the Goa Sales Tax, Central Sales Tax, Entertainment Tax, Luxury Tax, and Entry Tax. For cases involving seizures that are re-assessed, a 50 per cent penalty rebate and a 100 per cent interest waiver will be granted.

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Applicants can settle their dues in nine monthly instalments, with the first and last instalments due on the specified dates. Sawant stressed that no interest would be levied for delays or defaults in payment between the second and eighth instalments.

To initiate the settlement process, applicants are required to pay ten percent of the total payable amount as a pre-deposit. Sawant highlighted that previously, the Goa government had introduced the One-Time Settlement Scheme in 2023, resulting in the waiver of dues owed to the Commercial Tax Department. Under this scheme, the government itself waived dues amounting to Rs 48.5 crore, benefiting 16,412 dealers.

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(With PTI Inputs)

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Published February 29th, 2024 at 17:28 IST

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